The operator of Japanese clothing giant Uniqlo is expecting revenue to top 3 trillion yen in the current business year. Fast Retailing says it's on track to meet that threshold for the first time with strong sales overseas.

The company expects consolidated revenue for the current business year that started in September to exceed 3 trillion yen, or 20 billion dollars. That would be the first time for Fast Retailing to reach that level.

In the fiscal year that ended in August, the company achieved record sales and net profits. Revenue rose 20 percent year-on-year to over 2.7 trillion yen. That's over 18 billion dollars. Net profit stood at nearly 2 billion dollars.

Sales from its overseas business accounted for more than 50 percent of consolidated sales for the first time.

In China, sales of Uniqlo's functional clothing were strong due to a post-pandemic consumption recovery, and continued hot weather. Similar sales results were seen in the US, Europe and in Southeast Asia.

The company's domestic performance was also brisk. Fast Retailing posted record sales as it streamlined operations. The post-pandemic recovery also contributed to its growth.

Yanai Tadashi, Chairperson, President and CEO of Fast Retailing says," We want to achieve our revenue target of 5 trillion yen in the next several years. And beyond that, we eventually aim to reach the 10 trillion-yen goal."

He added that he sees the firm achieving 5 trillion yen in sales by opening flagship stores in major world cities. Yanai said he is confident that it won't be so difficult to double these recent efforts to achieve the firm's 10 trillion-yen goal.